MarketingVOX reports on some exciting speculation from this week’s Ad:Tech San Francisco.
In his keynote address, Sequoia Capital Partner Mark Kvamme predicted that internet advertising would be a $35 billion market in 2008, nearly double the $18 billion predicted by the Internet Advertising Bureau, writes ClickZ’s Rebecca Lieb. At the heart of his prediction is his belief that advertisers will see the value in online advertising and siphon dollars from TV.
Kvamme said TV reaches 32 percent of the population, but 38 percent of ad dollars are allocated to it; the web, meanwhile, reaches 32 percent of people but internet advertising captures a mere five percent of ad dollars. TV CPMs are around $64, contrasted to $10-30 online.